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Cyprus 20, Germany 8, Syria 7, Eu 5, Us 5, Brussels 4, Euros 3, U.s. 3, Russia 3, China 2, Berlin 2, Kazakhstan 2, Africa 2, Europe 2, Britain 2, Damascus 2, France 2, Afghanistan 2, Dublin 2, Italy 2,
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  KCSMMHZ    Journal  

    March 25, 2013
    2:30 - 3:00pm PDT  

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european union and the government of cyprus has agreed on a euro package to salvage the countries tanks. many are still skeptical. a call for politicians to be held accountable. as this nation prepares to face years of austerity to meet the terms laid out by its international lenders. >> we will be going live to our correspondents in just a moment. first, this report. >> cyprus's a banks have been closed for 10 days now. the two mainlanders will be shut on thursday. smaller banks will open in the morning. the to be a bank holiday anyway.
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went ahead as planned. celebrations are muted. everyone knows there are hard times ahead. >> there is no other choice. i cannot say we rejoice, but if this is the only possible way, then i want to assure you that we will be very resilient. >> it is goodbye to the low-tax business model that attracted lots of money a broad, a huge number of inking jobs will go. the country's a second-biggest bank, lockheed, will be submerged into the bank of cyprus. that's a, too, will be radically structured. euros will remain frozen. 30% will be taken to help sort out the thanks debts. under this new plan, deposits under 100,000 euros will be protected. the measures will not only
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affect foreign investors, many will lose out as well. there are barely any provisions with -- people have been supporting themselves in old age. the deposits are now in danger. >> up to now, the people have been extremely calm. and it is the people that have been great, not the politicians in this. the first attempted to deal for cyprus was voted down by the country's parliament. this time around, there approval is not required. >> let's go now live to make who is standing by for us and has the latest. nathan, the president was scheduled to address the nation as of this hour. it is a little bit late. what is he expected to say? >> there have been three delays. i am talking to you from the studio that have just gone on now.
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he is just beginning. he is expected to speak solely about this a bailout agreement. that is the main focus of the entire speech. we have no indication, but i have to say that we do not know anything. >> is this banking bailout a done deal? what is the procedure? what happens now? >> i think it is a done deal. they have new powers to resolve the banking crisis. it does not need to go back to parliament. that was confirmed by cyprus. things are already happening. we know the central bank has named an administrator for the lockheed bank. we have just got notice that lockheed and think of cyprus will remain closed for two days and remain open on thursday. that gives them two days to try to get ready for whatever
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happens next. we note with lockheed that will be the end of their business. >> ok. at the end of their business. her banking sector is effectively dismantled. facing years of austerity. what has been the public reaction? >> the public are just getting used to the idea, now, i think. as the situation is being explained to them, there is extreme anger about the banks and the state of the banks and the fact that lots of people did not know how bad it was. they passed the stress test, believe it or not in 2011. the european central bank gave them the green light. so, people are stunned by the fact that there is such an unhealthy state. >> a lot of questions to be answered. thank you very much. >> cyprus has been saved from bankruptcy, but ultimately the
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eurozone may be the biggest loser. >> europe's north and south are having a lot of difficulties understanding each other right now. the political differences could become more dangerous than the currency crisis. >> despite all of that, the german government is hanging -- is calling big government a success. >> there was relief in berlin. almost all political sides greeted the outcome. germany's chancellor, angela merkel, was pleased. >> banks must take responsibility for themselves. that is what we have always said. we do not want taxpayers to save banks. banks must save themselves. this is what will happen in the case of cyprus. >> politicians in brussels were happy about the deal as well. cyprus has tough times ahead, but the president of the european commission promised to the country would not be left alone.
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>> that is what i decided to set up tough -- for cyprus. the social consequences of economic shock by utilizing fronts -- >> but in russia, there was anger about the terms of the deal. many of the big depositors who will lose money are russians. >> it looks like a stealing of what has already been stalling -- of what has already been stolen continues. we will wait for the consquences of the financial system. >> the bailout needs to be approved by several eurozone parliaments, including germany's. it looks likely to go through there with a big majority. >> let's go live to brussels and bring in our correspondent who has been following the events in cyprus for us. leaders are calling this latest bailout a success, but in fact,
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in cyprus the banks are shuttered and the people are angry. the economy is on the edge. how is this a win? >> it is a win in a technical stents -- a sense. they would not fund -- because of that overnight agreement, that bankruptcy has been averted. on the ground, in reality, there are people there who are desperate to get money out. there are concerns in brussels about future bailouts. it is only a win in that very narrow definition of not having suffered the first bankruptcy of a national bank in the european union. but beyond that, we wait and see. >> as you indicated, this is not just cyprus. it is much broader. they are concerned to save -- to say the least. what guarantees do they have at their money is safe in the eurozone? >> if you are a small savor in the bank, bureaucrats here will
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tell you that cyprus was one off. yes, we came close to breaking bank accounts, but it did not quite happen, so rest calm. people responding to that is that so far, every time there has been a a lot or crisis, it has been a one off. greece was a one off and it could not happen again in that form. spain, portugal, italy. what's a cyprus has done is raise concerns that yes, it may have been a one off, but it came close to rating people's private money, even those who have saved less than 100,000 euros were threatened. it could happen anywhere again. that is the message people are taking away that right now nothing is safe. >> briefly, if you could, cyprus is just 0.02% of the gdp. what is the plan in brussels trip spain or italy hit the ropes? >> you know, i do not think they are prepared to contemplate something on that scale. as you said, cyprus is tiny, a
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mere fraction of 1% of the gdp. why? because they do see a risk to their savings for the first time. there has been a raid on people's savings. people are very worried now and there is no game plan for the future that anyone can see. >> thank you very much. >> and a cyprus bailout, not surprisingly, dominating trading on monday. there was some initial optimism, but it faded pretty quickly. our correspondent explains from frankfurt. >> there was never euphoria, but initially, at least, great relief. there will be no escalation with the sovereign sovereign debt crisis for euro land. then it set in and people started to fear. people see cyprus slipping into a reception with the big sacrifices of banks. richard customers are having to
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take cuts. it could cost jobs. people are afraid. and there were remarks. he sees the solution in cyprus as a model for the rest of the eurozone. that sparks fears that other countries -- in other countries, people could start to withdraw money from banks and put their capital elsewhere outside of the euro. >> let's get a closer look at those market numbers for you. at the dax settled the day. the euro stoxx 50 was down about 0.25%. the dow settling the day in negative territory and the euro dollar is also trending lower. >> to syria now where battlefield for the opposition is leading to deepening oppositions to military and political votes. >> meanwhile, the fighting continues, especially in the capital of damascus which is 18 battleground of the country's a civil war. >> the un is pulling half of its 100-member stepped out of
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that city as the violence increases. >> rebels have been firing mortars right into the heart of damascus. forces hit back, attacking rebel-held areas. so far, the government has held control of central damascus but the capital is now beginning to see the violence that has laid waste to other parts of syria. in the east of the country, the opposition had a setback. the founder of the free syrian army narrowly survived in suspected assassination attempt. he is being transferred to turkey for treatment. off the battlefield, the syrian opposition is being pulled apart by deep political provisions. the head of the coalition resigned on sunday, apparently frustrated by internal power struggles. the recently elected prime minister lacks unanimous backing from within the opposition ranks. these developments are being watched with concern abroad.
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>> on the one hand, we hope that the opposition pulls together again because any division is negative. on the other hand, we hope that the opposition sticks to its parameters. we absolutely do not want to drift towards extremism. >> the opposition will officially represent syria for the first time at the arab league summit on tuesday. it will be a serious test of its ability to provide a united alternative to the assad regime. >> we will have much more on the syrian opposition coming up later in this hour. >> fighting is being reported in the capital of the central african republic. they have raided staff homes after rebels seized control there. >> the rebel leader has declared himself the new president. these developments come two months after rebels and the government signed a peace deal.
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>> schools and businesses are closed in the capital. they have taken to the streets. they are sending the country's president flame. the rebels have now installed in this place. >> the rebels have blocked our telephone networks. they are killing and plundering. they have taken this a city hostage. >> for many residents, the events are reminiscent of a decade ago where he swept to power in a rebel crew. they accused him of bringing about little positive change while in office. the majority of the central african republic still lives entire property despite vast natural resources that include diamonds, gold, and uranium. south africa has confirmed that at least 13 of its soldiers were killed in the weekends fighting. they were stationed alongside french groups as peacekeepers in the country. for decades, lyrical
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instability have ruled the central african republic. this is just the latest in a long line of foods -- ocf coups. >> short break, back in a minute. >> her mother is hiv positive. he was infected at birth.
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she probably will not live until the age of i've. -- of the 5. the german aids foundation is supporting the project. get a baby a future. make a donation. to save a life. >> thank you for saying -- you staying with us. >> welcome back. >> those opposition leaders welcomed the announcement, but it remains very divided. -- he does intend to address the summit. >> meanwhile, syrian activists are trying to mobilize german support for their efforts to oust the assad government. >> a moment of silence is a call to action. the association of syrian academics organize this event at the university.
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they are calling for german help and german weapons for the resistance against bashar al- assad. he is making his case for trusting moderate forces in syria, but he also wants a weapons the free syrian army. >> we do not need weapons to attack others, but in order to defend ourselves. we are now organized sufficiently so that germany will say yes to supporting us. >> a tough challenge for the ambassador of the syrian opposition in paris. -- he is working against radicalization in the forces, but he still backs arming the rebels. >> it is your responsibility to act since the europeans have let the syrian people high and dry for the last two years. russia, iran, and -- are backing
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the atrocities. >> sobering statistics after two years of conflict. 70,000 people dead, over one million refugees, much of syria reduced to rubble. arming the president's opponents remains controversial. a rift has opened up over the issue in the eu. with britain and france pushing for dropping in eu weapons embargo, there is little indication that the german government will budge. >> even if there were no eu sanctions, this is a conflict zone. it is an ongoing conflict. we cannot supply weapons to a conflict his own. >> while germany is staying for money arms embargo, it is pumping money into refugee camps. >> i think the solution is for the german government to put an end to the arms embargo.
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the government need not send arms directly, but it could facilitate others doing so. opposition activists say the syrians have endured too much hardship in recent years. now they are saying that berlin needs to change its tactics. >> our message to the german government is that the international community must adopt a clear position on syria. >> he also wants a germans to take a closer look at what is happening in his country and he hopes that the eu will then act. >> what exactly is behind germany's position on syria? earlier we put that question to our correspondent, peter craven. >> i think you really have to see germany's position on this in the european context. there was a meeting in dublin just this weekend where britain and france called upon the eu to lift its embargo that it has
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imposed on the syrian opposition fighters. however, that initiative was blocked by germany and other eu countries who argued that it is not possible to prevent those from ending up in the wrong hands. any shipments to the opposition will prompt russia and iran to step up their shipments to the regime. there is also concerns about where these weapons will end up once the dust settles on this terrible conflict. before that meeting in dublin, although germany is skeptical, it might reconsider its position if the situation on the ground changes. however, 70,000 deaths do not -- if it does not prevent them to become more active, it is hard to imagine what would. >> the soccer team is playing down its chances for the world cup. more on that in a moment. >> first, other stories stories making the headlines. >> u.s. secretary of state john
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kerry has made a visit to afghanistan. it was a bid to improve relations as the u.s. continues handing over responsibility for security to afghan forces. >> afghan of stories have taken full control of the prison from u.s. officials. washington had repeatedly postponed the move for security concerns. it was the last attention facility in afghanistan run by americans. >> in burma, violence by buddhists against muslims have spread to more towns. they torched a mosque in the center of the country. at least 32 people have died in recent days of the violence. the government has deployed soldiers to the region and has declared a state of emergency. >> china's new president, xi jinping wants to intensify his ties to africa.
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it is one of hope and promise. on sunday, he signed -- with his counterpart. china, the world's most second -- the second-largest economy gets many of its materials from africa. >> time now for that soccer, as promised. the team has returned to training on sunday following their win over kaz expand. >> that world cup qualifying game left the head coach with some selection problems. >> germany's of footballers were at a pr of men today trying their luck with their hands in such of their feet. after the team manager played down the chances of a european team winning the world cup in brazil, the coach was keen to reassure fans that germany was going to give the campaign they're all. >> it will be very difficult.
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history shows that. in seven cups, no european nation has ever managed to win. it will be difficult, but that does not been our preparations will be any less meticulous, any less rigorous, or any less focused. >> he has bigger problems ahead of the cassock stan -- kazakhstan match. >> we decided to leave mario gomez at the hotel. they went for a run in the woods and tried to slowly work off some of their strains. >> the final training session before tuesday's match will help assess whether those players will be fit enough to face kazakhstan. >> it is the end of march, but you would not know it's walking
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around here in germany. it is freezing. probably a good time to have an energy-efficient home or apartment. >> there are lots of creative ways of doing it. the latest trends are being presented right now in germany. >> we decide to take a look at one way to go green, literally. it involves something that you might not expect for heating. algae. >> scientists spent five years trying to find an algae culture that could be used to heat buildings. martin developed the system and now they are launching the test phase. >> we do not have any prior experience. we are kind of writing the book. >> the algae building is a world premiere, but growing algae could soon set a precedent for others because the algae only need a few nutrients, carbon
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dioxide, and some might in order to produce heat and valuable bio mass. >> if we take a look at our efficiencies, you could say we went back 10% of the night as biomass and harnessed 38% as heat. that's means i recover 48% of the light absorbed by the algae. in solar cells, it is only around 12% to 15%. >> and construction materials and energy systems are key topics at the building exhibition in hamburg. it is a bonanza for architects and property developers looking to improve the energy efficiency of their buildings. >> they are highly efficient buildings when it comes to energy consumption.
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they use little energy, but at the same time they produce a lot of regenerative energy in an intelligent manner. they can supply a heating network and other units like swimming pools. we are not just taking about single buildings, but entire neighborhoods. >> investors have artie expressed interest in projects like the algae building that could turn large places like furniture stores or warehouses into sources of revenue. >> we have made so much progress that we now have a prototype that is almost a finished product. we only want to make a few small changes in the product development, but as you see here, it is a finished product that could be used on a larger scale. >> the complicated water flow system still being thoroughly tested. at the end of april, algae will be introduced and the first
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residents are due to move into the building. >> not a bad idea at all considering that much of europe is still seeing the coldest temperatures for march in decades. collects a moscow was hit by yet another snowstorm with the city getting one third of the snowfall in 24 hours. the city deployed thousands of snow plows to clear roads. one resident said it felt like the 55th of february rather than the 25th of march. it was indeed time for february to end. >> still counting on those days, we'll be back at the top of of the hour with more news. >> stay with us.
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